Despite Recent Run-Up, Average Monthly Gas Price Continues To Show Decline, Says Auto Club

(LOS ANGELES, Sept. 11, 2007) —Although recent days have brought increased prices at the pump, the overall average monthly gas price for Southern California declined slightly in most regions compared to the prior month, according to the Automobile Club of Southern California monthly Fuel Gauge Report.

The Southern California September average price for regular self-serve gasoline is $2.868, a four-cent drop from Aug.14 and 62 cents below the all-time record high of $3.486 set in May.

"We've seen the average monthly price drop for four consecutive months, and usually that pace continues through the fall. However, recent concerns about hurricanes and Midwest gasoline production have caused prices to bump up in recent days. No one can predict with certainty at this point whether the prices increases will continue or whether we will see a further decline in prices," said Auto Club spokesperson Carol Thorp.

In California, the average price for September is $2.866, down six cents from $2.929 in August. The state’s lowest average price is in Glendora, where regular sells for $2.713. Tahoe City has the state’s highest average at $3.099.

Nationally, the average price is $2.814, up five cents from $2.767 in August. New Jersey has the lowest average price, at $2.540.

In Southern California, the averages for regular and premium grades of gasoline are listed below:

The Auto Club’s Fuel Gauge Report is based on data gathered from monitoring fuel transactions at 3,900 Southern California gas stations. Oil Price Information Service — the nation’s most comprehensive source of petroleum pricing information, provides the data. Editors, for regional average daily fuel prices nationwide, please go to www.fuelgaugereport.com.

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